The monthly BLS report on unemployment comes in under expectations which were for some 235,000 news jobs. So the 214,000 is a downside miss. However, the new benchmark for “good, not great” seems to be a monthly increase in of 200,000. And the economy has hit that number for nine consecutive months.
Wage growth is now what economist are looking for as an indication that the economy is kicking into a higher gear. Less to celebrate in those numbers. As:
But, then, labor force participation increased. Fewer people on the sidelines. More people out there looking for work and, even, finding it.
(For the contrarian take on this, go here.)
So a good, solid report indicating that maybe the “recovery” is over the staggers and getting steadier on its feet.
